Category: Trust & Estate Administration

Selecting the right trustee is crucial for the effective administration and management of your trust. A trustee manages and administers the trust according to its terms and California law, and their responsibilities include: Investing assets Distributing income or principal to beneficiaries

Are Trustees Paid? Yes. Trustees are entitled to compensation. Whether you're a surviving spouse, a sole beneficiary, or someone entrusted with administering a trust, understanding the rules and considerations surrounding trustee compensation is essential. In California, several factors come into play when determining compensation and ensuring fairness and...

Avoiding Trust Disputes: The Importance of Openness & Transparency Trusts are valuable tools for estate planning, designed to protect and distribute assets according to your wishes. However, disputes among beneficiaries can arise if there's a lack of transparency or communication from trustees. Benefits of Openness...

As a trustee of an irrevocable trust, your role comes with significant responsibilities. One of the primary tasks at hand is to grasp the fundamental principles of fiduciary duty. This duty is the cornerstone of trust administration, guiding trustees in their actions and decisions for the benefit of beneficiaries.

Trustees often fail to meet their obligations, engaging in a variety of breaches that undermine the integrity of trust and estate administration. These infractions include violations of trust, misappropriation of funds, inadequate management, fraudulent activities, failure to act, and conflicts of interest within business endeavors. California Trustees Duties...

To comprehend the application of no contest clauses in California, attention must be directed to Probate Code Section 21310, et. seq. This statute delineates the constraints imposed on the effectiveness of a no-contest clause. These clauses, despite their presence in a legal document, can only be enforced under three specific circumstances:

California Trustees must comply with their legal obligations under Probate Code Section 16061.7 which, in part, requires the Trustee to provide notice to all heirs and beneficiaries of their right to receive a copy of the terms of the trust. This provision plays a crucial role in ensuring transparency and fairness to...

When you create a Living Trust, you’re the one in control as the Trustee. But, if you become unable to manage it, a Successor Trustee (often a spouse or child) steps in, often with little to no experience. Imagine it as passing the reins of a family business to someone unfamiliar with...

When Beneficiaries Make Demands on Trust Management and Administration In California, trustees have a duty to ensure that trust beneficiaries are kept fully informed about the management and administration of the trust. This responsibility encompasses the provision of a detailed report on the trust’s assets and their use.